Troubled Everton Close To New Financial Lifeline

An embattled Premier League club could once again receive a new financial lifeline — and once again, the hero would be an American investor. 

Less than three weeks after the collapse of a potential investment of up to $190 million from U.S. investment group MSP Sports Capital, Everton is now nearing a deal with Florida-based 777 Partners for a majority stake, according to multiple reports.

777 Partners — which is steadily amassing one of the world’s leading soccer portfolios and had previously considered an investment in Everton — was seen as a potential reentrant after the MSP deal fell through.

If completed, the acquisition will provide a welcome injection of capital and oversight to the club, which has posted five straight years of financial losses. Currently led by Farhad Moshiri, Everton barely avoided relegation last season and is again below the cut line in 18th place. 

Spending Woes

A new stadium is under construction, but Everton’s costs have risen more than 50% to $945 million. Without the enhanced revenue from the new facility, club losses have reached $500 million over the last five years. 

The club is also under investigation for potentially violating spending rules.

The 777 Partners deal would also bring the number of American-owned Premier League clubs to 10 out of 20 — a group that also includes stalwarts such as Arsenal, Chelsea, Liverpool, and Manchester United.